Bryan J. Lima

$365,000 FIRST FLOOR FEATURES ENTRY HALL, LARGE LIVING ROOM WITH HARD WOOD FLOORS, MODERN EAT-IN KITCHEN, NEWER HALF BATH AND DINING ROOM. THE SECOND FLOOR HAS THREE BEDROOMS AND A FULL BATH. THE UNFINISHED BASEMENT CONTAINS A LANDRY AREA. VERY DEEP BACKYARD, LARGE DRIVEWAY WITH PLENTY OF PARKING, NEWER ROOF, TWO-CAR GARAGE WITH NEWER DOOR AND LARGE SHED. WITHIN MINUTES FROM MIDLAND PARK AND RIDGEWOOD'S DOWNTOWN, THE MIDTOWN DIRECT TRAIN STATION TO NEW YORK CITY'S PENN STATION AND NEWARK LIBERTY INTERNATIONAL AIRPORT. THIS IS A GREAT OPPORTUNITY TO LIVE IN SOUGHT AFTER TOWN OF MIDLAND PARK WITH EXCELLENT SCHOOLS!! Bryan J. Lima Realtor, Short Sales and Foreclosure Resource DeFino Realtors 201.970.6857 homes@bryanlima.com www.bryanlima.com   Follow me:      ... (more)

Federal Reserve to Buy $300B in Treasurys

The Federal Reserve announced today that they would start to buy up $300 billion in long-term Treasurys over the next 6 months. In addition, they also announced that they are planning to buy another $750B in mortgage-backed securities. With these announcement we should see rates immediately come down and probably remain low over the next few months. If you're planning to refinance, now would probably be the time. Read more These are definitely very aggressive steps by the Fed to immediately lower long-term interest rates and keep them low for some time. The timing is definitely r... (more)

Bergen County, NJ Real Estate Market

Real Estate on Ulitzer New Jersey's high cost of living makes it very difficult to purchase a home. Bergen County, NJ is the highest among all markets in homeownership affordability and also happens to be the most populous county in NJ. The median home price in Bergen County is $481,250. According to a 2007 estimate by the US Census Bureau, the median income of a family is just shy of $97,000. If you assume that not more than 28% of the household income should be used for the mortgage payment, that would mean that it should not be higher than $2,263 per month. Based on today's m... (more)

Unfinished Homes a Sad Symbol of Real Estate Downturn

By Kathleen Lynn RISMEDIA, March 13, 2010—(MCT)—The listing describes the new, six-bedroom, six-bath Colonial on Timberlane Road in Upper Saddle River, N.J., as “spectacular.” With an asking price of almost $1.6 million, it’s a “must see,” the listing says. But up close, the picture gets more complicated. Though the home’s exterior is mostly finished, the brick facade is missing in spots. The front steps are temporary, made of plywood. The listing says it’s a short sale—in other words, expected to sell for less than is owed on the mortgage, if the bank approves. “Builder will f... (more)

Is now the right time to buy?

I'm sure there are many people asking the question, "Is now the right time to buy?". Nobody really knows for sure. However, there are some facts that you can look at to help evaluate whether or not now is the right time to buy. For one, mortgage rates are currently close to the lowest they've been in almost 50 years. In addition, home prices are low and probably close to the bottom. There may be a little more ways to go, but I think we're close. With the Spring homebuying season upon us, we may see an increase in sellers in the market, which will increase inventory and possible p... (more)